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Soilbuild Construction CEO resigns

Soilbuild Construction Group said on Friday that its chief executive officer Ding Yen Shee Daniel is resigning to pursue his personal interests.

The resignation is effective immediately. The nominating committee and board of directors said they had reviewed Mr Ding's reason for resignation, and accepted the resignation and the mutually agreed short notice period despite his relatively short tenure as CEO.

Mr Ding was appointed CEO in April this year.

Soilbuild's executive chairman Lim Chap Huat, who is responsible for the strategic direction, business planning and development of the group, will assume the role of CEO and the responsibilities of running the day-to-day operations and implementing the group's strategies and policies.

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He will be supported by the group's key management personnel, who have experience, knowledge and qualifications in the construction industry and have served in SoilBuild for periods ranging from six to 33 years.

The group is confident that it will be able to continue executing its strategies, in particular expansion in the precast and prefabrication manufacturing business. The nominating committee and board of directors will also continue to review the CEO succession plan, Soilbuild said.

Soilbuild Construction shares closed at 5.4 Singapore cents on Friday, down 1.82 per cent or 0.1 Singapore cent.